Fidelity National Information Services (NYSE:FIS) Releases FY24 Earnings Guidance

Fidelity National Information Services (NYSE:FIS) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $4.88-4.98 for the period, compared to the consensus earnings per share estimate of $4.72. The company issued revenue guidance of $10.10-10.15 billion, compared to the consensus revenue estimate of $10.13 billion. Fidelity National Information Services also updated its FY 2024 guidance to 4.880-4.980 EPS.

Fidelity National Information Services Trading Down 0.4 %

Fidelity National Information Services stock traded down $0.27 during midday trading on Monday, reaching $70.45. 5,184,105 shares of the stock traded hands, compared to its average volume of 4,411,686. The firm has a market cap of $39.56 billion, a PE ratio of -6.28, a price-to-earnings-growth ratio of 0.88 and a beta of 0.98. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $70.56 and a two-hundred day simple moving average of $62.60. Fidelity National Information Services has a 12-month low of $46.91 and a 12-month high of $74.75.

Fidelity National Information Services (NYSE:FIS) last posted its quarterly earnings data on Monday, February 26th. The information technology services provider reported $0.94 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.01). Fidelity National Information Services had a negative net margin of 54.30% and a positive return on equity of 13.06%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the business posted $1.71 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts expect that Fidelity National Information Services will post 4.71 earnings per share for the current fiscal year.

Fidelity National Information Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, June 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. Fidelity National Information Services’s payout ratio is -12.81%.

Fidelity National Information Services declared that its Board of Directors has initiated a share repurchase program on Monday, February 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FIS shares. TheStreet upgraded shares of Fidelity National Information Services from a d rating to a c rating in a report on Monday, February 26th. Robert W. Baird downgraded Fidelity National Information Services from an outperform rating to a neutral rating and lifted their price target for the stock from $76.00 to $78.00 in a report on Wednesday, March 13th. UBS Group raised their target price on Fidelity National Information Services from $66.00 to $70.00 and gave the stock a neutral rating in a research report on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on Fidelity National Information Services in a report on Thursday, February 29th. They issued a buy rating and a $84.00 price target for the company. Finally, Evercore ISI boosted their price objective on shares of Fidelity National Information Services from $62.00 to $75.00 and gave the stock an in-line rating in a research report on Tuesday, April 30th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $72.50.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein bought 775 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was acquired at an average cost of $72.37 per share, with a total value of $56,086.75. Following the purchase, the director now owns 9,052 shares in the company, valued at approximately $655,093.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

About Fidelity National Information Services

Fidelity National Information Services, Inc engages in the provision of financial services technology solutions for financial institutions, businesses, and developers worldwide. It operates through Banking Solutions, Capital Market Solutions, and Corporate and Other segments. The company provides core processing and ancillary applications; mobile and online banking; fraud, risk management, and compliance; card and retail payment; electronic funds transfer and network; wealth and retirement; and item processing and output solutions.